Branstad Funds Orascom Instead of Schools
DES MOINES — The Iowa Economic Development Authority (IEDA) today approved an additional $21.5 million in tax incentives for the Iowa Fertilizer Company, a wholly owned subsidiary of Orascom Construction Industries. The total granted to Orascom by IEDA is now nearly $110 million, and today’s decision comes just days after the Iowa legislature adjourned a contentious session where revenue shortfalls played a role in every budgetary decision.
In July of 2014, Public Policy Polling released a survey showing widespread opposition to granting another set of tax incentives for Orascom. 55% of registered voters in Iowa were opposed, and just 22% were in favor.
In response to today’s decision by IEDA, Progress Iowa executive director Matt Sinovic issued the following statement:
“Today’s decision by the Branstad administration to grant Orascom another $21.5 million is shameful. How can the Governor tell teachers or state employees that we have the money for an Egyptian fertilizer company, but not for our schools or other programs we value? The Governor’s priorities are misguided and out of step with everyday Iowans.”
“Orascom has taken advantage of every giveaway from the Branstad administration, fired more than 1,100 workers, and then had the audacity to come back and ask for more. Unfortunately, IEDA never knows when to stand up for Iowa values and say enough is enough.”
“Every budget decision shows what our state values. Our legislature and Governor chose not to adequately fund education this year. The Governor ignored the legislature and chose to shut down half of our state’s mental health facilities. But somehow, some way, this Egyptian fertilizer company keeps receiving millions of dollars from a state that supposedly can’t afford much of anything else.”
“Today’s decision demonstrates that our Governor and legislature don’t value our schools, state workers, or those in need of mental health care as much as they value a foreign corporation with a poor track record.”
Progress Iowa is a multi-issue progressive advocacy organization with a network of more than 60,000 progressives. Year-round, Progress Iowa advocates for a stronger middle class, first-class public education, and fairness for all Iowans under the law.
Contact: Matt Sinovic, (515) 423-0530
###
Background:
Public Policy Polling Survey: Strong Opposition to Orascom Deal in Iowa
scribd.com/doc/234240151/Public-Policy-Polling-Survey-Strong-Opposition-to-Orascom-Deal-in-Iowa
Iowa Fertilizer Company gets another tax incentive award
dailygate.com/news/article_7ce2d88a-16a4-11e5-b72c-df6f47f16918.html
Iowa fertilizer plant seeks additional $21.5 million
desmoinesregister.com/story/money/business/2015/06/18/iowa-fertilizer-incentives-economic-development-authority/28952201/
Blog For Iowa 